SAC Capital Raising Another High-Fee Fund

Evidently, investors are still willing to pay sky-high fees to join Steve Cohen’s party. Marketwatch is reporting that Cohen’s firm, SAC Capital, has already inked $2.5 billion in commitments on what will ultimately be a $3 billion fund. For the privilege, investors will tie up their money for three years while paying a 3% management fee and 35% incentive fee, compared to the firm’s last fund which waived the management fee in return for 50% of the profits. The firm’s latest fee balancing act makes sense in light of its lower targeted returns. What a money factory!
SAC Capital Raising $3 Billion [Marketwatch]

Comments:

<< Back to main